Tag: Economy: Page 3

Business

Wages for construction and other skilled trades are on the rise

Wages for skilled tradesmen in the construction and mining as well as those in logging and manufacturing are on the rise, according to a new report from the Economist. Citing data from the Bureau of Labor Statistics, the report says that hourly wages have grown at an annual rate of around 2 percent for the last […]

June 4, 2014

Business

Minnesota construction firms likely need to boost pay, reduce expectations to find enough workers to meet demand

Construction is Minnesota’s fastest growing industry, and as demand continues to pile up, construction firms there are having a hard time finding enough skilled workers. And one labor analyst suggests they might need to make some serious changes to fill those vacancies. According to a report from Minnesota Public Radio, the skilled trades in Minnesota […]

May 27, 2014

Business

Colorado contractors say “huge shortage of tradesmen” is severely impacting business

Contractors in Colorado say that while there is plenty of work to go around, they are falling behind on jobs they have while unable to take on new jobs due to a serious shortage of skilled workers in the state. Doug Dohn of Dohn Construction in Fort Collins told the Coloradoan that none of his current […]

May 7, 2014

Business

Construction adds 32,000 jobs in April, unemployment rate drops again

Showing signs of momentum after a slowdown from the harsh winter weather seen at the start of the year, the U.S. construction industry saw its largest gain in jobs since the start of the year. The industry added 32,000 jobs in April marking the fourth straight month of gains. The total number of jobs in […]

May 2, 2014

Business

Despite being among the only jobs that can’t be outsourced, U.S. is largely blind to construction industry’s worth

The Wall Street Journal recently published an article about the need for more apprenticeships. Sure enough, it contained a misconception common to just about everything you read in the media about construction in this country today. Author Lauren Weber opened with the statement nobody questions, that more apprenticeships are needed to fill the skills gap. […]

May 1, 2014

Business

Construction spending up 0.2% in March as homebuilding hits highest pace in nearly 6 years

U.S. construction spending was up slightly in March due mainly to increases in private residential construction, now at its highest rate in nearly six years. Total spending rose in March to a seasonally adjusted annual rate of $942.5 billion, up 0.2 percent from the revised February figure of $940.7 billion. Due to the revision of […]

May 1, 2014

Business

A year and a half after Sandy’s devastation, New Jersey leads nation in construction job losses

After Superstorm Sandy wreaked havoc on the East Coast in October 2012, pummeling the New Jersey shore in particular, businesses in 113 of 565 New Jersey municipalities experienced a combined total of $382 million in commercial property loss, according to Federal Emergency Management Agency (FEMA). As a hurricane and post-tropical cyclone, Sandy was responsible for 117 […]

April 28, 2014

Business

Obama prepares to send $302 billion highway bill to Congress, but will it be enough?

President Barack Obama is preparing to present his proposed $302 billion, four-year transportation reauthorization bill to Congress. Transportation Secretary Anthony Foxx announced on the DOT’s Fast Lane blog that the president plans to send a draft of the legislation to lawmakers, though no specific timetable has been presented. “Soon, the Obama Administration will do exactly […]

April 24, 2014

Business

Home starts up 2.8% in March, builder confidence up slightly

Home starts rose 2.8 percent in March due to an increase in single-family homes, signaling what many analysts hope to be an end to construction slowdowns caused by the harsh winter weather. U.S. home starts rose to a seasonally adjusted annual rate of 946,000 from February’s revised rate of 920,000. February’s figure was revised upward […]

April 16, 2014

Business

Rise in unemployment snapped as construction industry adds 19,000 jobs in March

The U.S. construction industry added 19,000 jobs in March, the third straight month of gains and a welcome sign as demand continues to grow. March’s gains bring the total number of Americans employed by the industry to 5.964 million, according to preliminary data from the Bureau of Labor Statistics. That figure is 2.5 percent higher […]

April 4, 2014

Business

Homebuilding declines but construction spending up 0.1% in February

Construction spending in the U.S. ticked up 0.1 percent in February despite a decline in homebuilding, according to preliminary data from the Commerce Department. Total spending rose in February to a seasonally adjusted annual rate of $945.7 billion from the revised January figure of $944.6 billion. Due to the revision of that figure, what was a […]

April 1, 2014

Business

Construction expected to grow 8% this year with “groundhog”-like growth from nonresidential

Construction industry consultant FMI has released what it calls a “cautiously optimistic” outlook for the industry in 2014 in its latest quarterly report. The report predicts construction put-in-place to grow 8 percent this year and for the next few years. “Just like the spring, despite all odds and nasty economic weather, the nation needs to […]

March 27, 2014